LinkedIn 2015 Annual Report Download - page 50

2012, and 2011 are derived from our audited consolidated financial statements appearing under Item 8
‘‘Financial Statements and Supplementary Data’’ of this Annual Report on Form 10-K. The consolidated
statement of operations data for the year ended December 31, 2012 and 2011 and the consolidated
balance sheet data as of December 31, 2012 and 2011 are derived from audited consolidated financial
statements not included in this report. Our historical results are not necessarily indicative of future
results.
Year Ended December 31,
2015 2014 2013 2012 2011
(in thousands, except per share data)
Consolidated Statements of Operations Data:
Net revenue .......................... $2,990,911 $2,218,767 $1,528,545 $972,309 $522,189
Costs and expenses:
Cost of revenue (exclusive of depreciation and
amortization shown separately below) ...... 418,858 293,797 202,908 125,521 81,448
Sales and marketing ................... 1,048,129 774,411 522,100 324,896 164,703
Product development ................... 775,660 536,184 395,643 257,179 132,222
General and administrative ............... 478,734 341,294 225,566 128,002 74,871
Depreciation and amortization ............. 420,472 236,946 134,516 79,849 43,100
Total costs and expenses ............ 3,141,853 2,182,632 1,480,733 915,447 496,344
Income (loss) from operations .............. (150,942) 36,135 47,812 56,862 25,845
Other income (expense), net:
Interest income ....................... 10,571 4,971 2,895 1,025 169
Interest expense ...................... (50,882) (6,797) — — —
Other, net .......................... (23,477) (3,104) (1,479) (773) (3,072)
Other income (expense), net .......... (63,788) (4,930) 1,416 252 (2,903)
Income (loss) before income taxes ........... (214,730) 31,205 49,228 57,114 22,942
Provision (benefit) for income taxes .......... (49,969) 46,525 22,459 35,504 11,030
Net income (loss) ....................... (164,761) (15,320) 26,769 21,610 11,912
Accretion of redeemable noncontrolling interest . . (1,383) (427) — — —
Net income (loss) attributable to common
stockholders ......................... $ (166,144) $ (15,747) $ 26,769 $ 21,610 $ 11,912
Net income (loss) per share attributable to
common stockholders:
Basic ............................ $ (1.29) $ (0.13) $ 0.24 $ 0.21 $ 0.15
Diluted ........................... $ (1.29) $ (0.13) $ 0.23 $ 0.19 $ 0.11
Weighted-average shares used to compute net
income (loss) per share attributable to common
stockholders:
Basic ............................ 129,024 122,800 113,643 105,166 77,185
Diluted ........................... 129,024 122,800 118,944 112,844 104,118
Other Financial and Operational Data:
Adjusted EBITDA(1) ...................... $ 779,804 $ 592,214 $ 376,243 $223,030 $ 98,713
Number of registered members (at period end) . . 413,671 346,731 276,842 201,912 144,974
(1) We define adjusted EBITDA as net income (loss), plus: provision for income taxes; other (income)
expense, net; depreciation and amortization; and stock-based compensation. See ‘‘Adjusted EBITDA’’
below for more information and for a reconciliation of adjusted EBITDA to net income (loss), the most
directly comparable financial measure calculated and presented in accordance with Generally Accepted
Accounting Principles in the United States (‘‘US GAAP’’).
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